Washington, D.C. (July 25, 2007) - The Mortgage Bankers Association (MBA) is committed to helping first time home buyers learn about the mortgage process and is also working to keep current homeowners in their homes. To that end, MBA has enhanced its bilingual consumer education website, www.HomeLoanLearningCenter.com, with a comprehensive guide and an accompanying online calculator that were created to demystify the mortgage process. The Simple Facts provides valuable information that helps prospective homebuyers identify the pros and cons of each type of mortgage and choose the best product for their own personal situation. The Simple Calculator is a tool that estimates the payments for each product, not just today but throughout the mortgage, and compares payments under different types of loans.

"MBA has been very active in the area of financial education, working to make the home buying process as transparent as possible, and takes pride in adding to its robust list of offerings The Simple Facts and The Simple Calculator," said MBA Chairman John M. Robbins, CMB. "Helping borrowers understand and evaluate different mortgage choices is a role that our industry must play so that our customers receive the best mortgage information possible to make informed decisions."

HomeLoanLearningCenter.com is MBA's unbiased consumer education information website that educates consumers on a variety of topics related to the mortgage process - the basics of a mortgage, the importance of credit reports, current mortgage rates, recommendations on finding a lender, and foreclosure prevention information to name a few. The Simple Facts is a clear and concise guide that consumers can download from the Home Loan Learning Center and utilize when considering, among a variety of choices, what loan product is best for their own personal situation. The Simple Calculator complements The Simple Facts by calculating the numbers to help the consumer identify what loan is realistic for them. To view The Simple Facts, visit www.SimpleFacts.com or www.HomeLoanLearningCenter.com to see a whole host of other valuable information on the mortgage process.

The following organizations and companies commented on these new consumer education tools:

"The Simple Facts is an important project by the MBA and its members to advance the cause of sound and affordable mortgage lending," said Daniel H. Mudd, Chief Executive Officer of Fannie Mae, provider of capital and secondary market services to U.S. mortgage lenders. "We at Fannie Mae have long worked for and advocated clear, concise disclosure of mortgage terms to protect borrowers. Information and education are key parts of providing consumers with a fair path to homeownership."

"The Simple Facts will help consumers make more informed decisions about their most important investment - their home," said Dick Syron, Chairman and Chief Executive Officer of Freddie Mac.

"Clear and understandable information helps consumers become comfortable taking on a mortgage, which is a long-term responsibility," said David Lowman, Chief Executive Officer of Chase Home Lending, the mortgage unit of JPMorgan Chase.

"It's an easy to read disclosure that can be a valuable guide for consumers and a tool for lenders that don't already have such a guide," said Phil Bracken, Executive Vice President of Government and Industry Relations, Wells Fargo Home Mortgage.

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The Mortgage Bankers Association (MBA) is the national association representing the real estate finance industry, an industry that employs more than 280,000 people in virtually every community in the country. Headquartered in Washington, D.C., the association works to ensure the continued strength of the nation's residential and commercial real estate markets; to expand homeownership and extend access to affordable housing to all Americans. MBA promotes fair and ethical lending practices and fosters professional excellence among real estate finance employees through a wide range of educational programs and a variety of publications. Its membership of over 2,200 companies includes all elements of real estate finance: mortgage companies, mortgage brokers, commercial banks, thrifts, Wall Street conduits, life insurance companies and others in the mortgage lending field. For additional information, visit MBA's Web site:  www.mortgagebankers.org.